Utah's anti-gambling tradition takes on Kalshi and Polymarket

"We are putting a casino in the pocket of every single American, and they are targeting especially young people. It is really awful what they are doing, and we are going to make sure this doesn't happen in our state. Cox said he will sign the legislation, putting conservative Utah at odds with the federal government."

"For more than a century, Utah has kept gambling almost entirely out of the state. There are no casinos, no lotteries and no racetracks that allow bets, a prohibition rooted in the conservative ideals of The Church of Jesus Christ of Latter-day Saints, which views gambling as a vice that leads to selfishness and addiction."

"While regulators and other states are still debating whether those markets constitute finance or gambling, Utah has already made up its mind. The conflict puts Utah, a place that's not known for picking fights, on the frontlines of a cultural, political and economic battle sweeping the country."

Utah, historically prohibiting gambling due to conservative religious values rooted in The Church of Jesus Christ of Latter-day Saints, now confronts prediction markets that enable smartphone-based wagering on diverse outcomes. Governor Spencer Cox characterizes these platforms as virtual casinos targeting youth and plans to sign restrictive legislation. Kalshi and Polymarket, each valued at approximately $20 billion, operate with federal Commodity Futures Trading Commission support, creating conflict between state prohibition and federal regulatory frameworks. Kalshi has already initiated legal action against Utah. The dispute reflects broader national debate over whether prediction markets constitute financial instruments or gambling, positioning conservative Utah against a growing industry with significant Washington connections, including ties to Trump's family.

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